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Future of Real Estate in Gurgaon

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Future of Real Estate in Gurgaon

Last updated: June 16 2010
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  • Future of Real Estate in Gurgaon

    Future of Real Estate in Gurgaon?

    This could probably apply to most of the Indian cities (I mean....their future; but I would like to just focus on Gurgaon Real Estate.

    There is no doubt that Gurgaon of today is better in many ways as compared to many Indian cities. However, given the current construction scenario, I feel there would be a massive oversupply of both Commercial and Residential Properties in the next 36 months.

    Land in Gurgaon (DLF, Sushant Lok etc) is far cheaper than land prices in many areas of Delhi and offer better quality of lifestyle. However, I don’t feel that apartments in Gurgaon would command a better price in the future i.e. appreciate. Only a few high end complexes like Ambience Island, DLF Aralias and a few more premium ones could command more.

    Look at the whole Golf Course Extension Road. One can still see a lot of open spaces but in no time, hundreds of new building will come up and the area would look no different than the Golf Course Road.

    Is there enough Water and Electricity in Gurgaon for all this new development? Already the current infrastructure is overbearing and the private builders generate their own electricity and have dug their water boring.

    How much difference would the Metro make? What about the traffic and chaos that would continue to rise? Let’s not forget that Gurgaon does not have the kind of backup/governance as Delhi.

    There is lot of new money for the Haryana government and the locals have never had any experience with town planning. Imagine Gurgaon’s Municipality is just 2 years old and what difference has it made

    Gurgaon seems more like an investors market with all the financiers, builders and politicians parking their black money. For others too, it is probably the best place to invest your black money as the buying process is fairly simple and efficient and the environment is pretty multi-cultural and less threatening.

    If you drive around the new buildings on Sohna Road, most of them seem empty. Builders are constructing residential and commercial complexes right on NH8 up to Manesar. And people seem to be buying at the ongoing escalated rates, thinking that property prices will only go up so it is still a good time to buy; looking at past increases in Indian real estate prices.

    How may people can we expect to migrate from Delhi and other parts of the country to Gurgaon? How many more companies would shift base here? (The ones from Hyderabad?) Would there be more business opportunities and employment due to a robust economy and a high GDP growth?

    The Million Dollar question still remains.

    Until Then.
    Last edited April 13 2010, 10:30 PM.
  • #2

    #2

    Re : Future of Real Estate in Gurgaon

    The gurgaon plot remains a curious case. No infrastructure (or least of it), security problems, water/electricity scarcity, and so on. But I feel the one good part has been the fact that the Govt in Haryana has been in tandem with central govt (mostly congress), which has complemented its growth. Also the fact that Gurgaon has been biggest tax earner for Haryana.
    ............On the other side is Noida - with good infrastructure (noida gnoida e'way - if nothing else), abundant water, better connectivity to Delhi etc. But sadly the UP Govt has always been the one which was not ruling the centre.
    A drive through Gurgaon and Noida amply indicates which is a better place to opt for - which, strangely is not the same place for investment.

    Comment

    • #3

      #3

      Re : Future of Real Estate in Gurgaon

      Good points.

      But if enough rich people live in a place, water electricity etc are procured somehow.

      Water and electricity can be bought and piped from elsewhere. Ultimately all cities will get from somewhere.
      Venky (Please read watch a or before posting)

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      • #4

        #4

        Re : Future of Real Estate in Gurgaon

        hi

        appreciate your macro view .. we have been having the same and were being offered in sec 56 apprtment for 2000 sf for 20L 10 years back.. did not buy today it is worth 90-120L ...

        as you said rightly its the investors market and every one is making money for no reason .. fundamentally delhi is better place to live with 300 kms of metro soon and amazing connectivity and governance with patronising of both central and state govt .. and best security . however we are running of to near by town which provide micro habitat which may be a bit better than what we can afford in delhi .. so gurgaon etc is florishing ...

        just for your convinence i use
        http://wikimapia.org all properties are marked here on map .. will give fair idea of locality etc ...

        metro does not seem to be coming soon even... review the 3rd and 4th phase plan of DMRC below ... you will understand .. that means gurgaon will not see metro extension for another 10-15 coming years. as a benchmark DMRC using minimum 1 million population catchment to make the project feasable and NH8 etc will not have that population any time soon...


        infact the current section in gurgaon was made for facilitating people movement in and out of gurgaon who work in offices around so metro going to residential places is a distant dream... dont buy that ...


        REVIEW BELOW .. AND HAPPY INVESTING ...


        Vasant Kunj Drops Off Metro Map, DMRC Prunes Phase-III Network: Number

        Of Corridors, Routes Altered

        By akansha, Section Delhi Metro

        Posted on Wed May 12, 2010 at 12:20:19 AM EST
        Delhi Metro's Phase III is now going to span across 69.57 km as
        against the earlier proposed length of 85 km. The number of corridors
        has also been reduced from seven to six and the routes have been
        partially altered.

        According to the new plan, Vasant Kunj, Ghazipur, Shiv Vihar and

        Yamuna Vihar will not be on the Metro map for now. The alterations
        were made after Delhi Metro Rail Corporation (DMRC) prepared detailed
        project reports (DPRs) for the new sections. The DPRs have been
        submitted to the Delhi government for its final approval.

        According to sources, the corridors for which DPRs have been submitted

        to the government include a 25.66-km line from Anand Vihar to Dhaula
        Kuan of which 12.52 km will run underground and the rest would be
        elevated, a 12.40-km line from Mukundpur to Rajouri Garden of which
        6.58 km will be underground, a 9.64-km-long line from Ashok Park to
        Delhi Gate of which 5.28 km will be underground, a fully underground
        section from Central Secretariat to Red Fort (6.8 km) and an elevated
        extension of the existing Line 2 from Jehangirpuri to Badli (3.43 km).

        A sixth section (11.64 km) is proposed from the existing Metro station

        at Noida Sector 18 to Malviya Nagar via Kalindi Kunj.

        Phase III will have 50 more Metro stations (29 underground, 20

        elevated and one at grade) and a projected 18,85,796 commuters are
        expected to use it by 2016 as per the DPRs. All the new stretches
        except for the Line 2 extension from Jehangirpuri To Badli will come
        up on standard gauge technology in keeping with international
        standards.

        Source: Times Of India By Megha Suri Singh Vasant Kunj drops off Metro map


        Click On "Full Story" For More....


        The sections are not different from what had initially been proposed

        by the Delhi Metro Rail Corporation in the original Metro masterplan
        prepared for the capital with a 2021 deadline.

        At that stage, the corporation had specified that the proposed

        alignments were ``only indicative'' and the final alignment would be
        decided once the DPRs are prepared for the new sections after carrying
        out field surveys to determine actual conditions on site.

        Only one section proposed earlier -- Shiv Vihar-Yamuna

        Vihar-Seelampur-Yamuna Bank (11 kms) -- has reportedly been put on
        hold for now.

        There are minor changes in the rest of the sections. In the initial

        plan, the Noida corridor was proposed to be 23 km long and was to
        extend to NH-8 via Vasant Kunj. The corridor will now reportedly stop
        at Malviya Nagar. Also, the Mukundpur-Rajouri Garden section was
        earlier supposed to stop at Shivaji Park. But the length has been
        increased by 1.4 km. The earlier proposed Ashok Park-New Delhi Railway
        Station section has also extended by 2.6 kms to reach Delhi Gate.

        The changes were made after the ground situations were analysed in

        detail. ``We had carried out some surveys which indicated that there
        were more areas where Metro would be viable. This had been stated in
        the economic survey released by the government and conveyed to DMRC.
        Some of the modifications are in tune with that. The exact alignments
        given in the DPRs are being examined and more changes could be made if
        the need arises. We are also looking at funding issues,'' said a
        senior government official.

        The government is reportedly approaching Delhi Development Authority

        (DDA) to pay in part for the Metro since it is being felt that several
        DDA colonies in the city have benefited from the Metro. After the
        routes are approved by the government, they will be forwarded to GoM
        for a final nod and funding will be worked out. Construction is
        expected to start only after that. Phase III has a 2015 deadline.

        The Masterplan is constantly under revision and since it was first

        prepared, about 150 kms have been added to the Metro network which was
        originally conceptualised.

        second info ********************


        Metro Master Plan 2021 Boon For NCR Towns In The Future


        By Ravi shankar, Section GN

        Posted on Wed Jun 04, 2008 at 10:51:29 PM EST
        The DMRC's revised Delhi Metro Master Plan 2021 for NCR towns in phase
        III and IV include Faridabad, Ghaziabad, Bahadurgarh,Nawada, Noida
        (sector 62) and Kheri Khurd, besides Gurgaon. About 62 kms of metro
        lines are planned in these NCR towns in the future.

        Master Plan 2021 shows an 160 km expansion plan within Delhi in Phase

        III and IV As per plans, the Metro line would be extended to Faridabad
        from Badarpur border till YMCA Chowk in Phase III. The proposed
        elevated 13.8 km line would have nine stations and would be ready by
        2012. The 9.41-km-long Ghaziabad extension till Main Bus Stand,
        4.88-km-long Bahadurgarh extension and 3-km long Nawada extension from
        Gokulpuri border will come up in Phase III.

        Phase IV has plans construct a six-m-long Ghazipur border-Noida

        (sector 62) line and a 5.50-km-long Ajronda-Kheri Khurd line. The
        total length in this phase will be around 11.50 km.HTC

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